Guide to Preventing Workplace Fraud Taking …

Guide to Preventing Workplace FraudTaking Action to Reduce Business Crime ExposureIt s Chubb. Or it s Chance. 2006 KPMG LLP, the member firm of KPMG International, a Swisscooperative. All rights reserved. KPMG and the KPMG logo are registeredtrademarks of KPMG International, a Swiss TO Preventing Workplace FRAUDTAKING ACTION TO REDUCE BUSINESS CRIME EXPOSURE Honesty pays, but it doesn t seemto pay enough to suit some people. F. M. HubbardPREFACER egardless of size, all organizations are vulnerable to Workplace Fraud . Fraudcan take many forms including embezzlement, forgery, theft of inventoryand other assets, and computer crime and can continue unchecked foryears. The financial impact on an organization of these so-called white-collar crimes can be a leading provider of crime insurance (sometimes known as fidelitybond), the Chubb Group of Insurance Companies believes the most cost-effective way to deal with Fraud is to prevent it. Although insurance can helprecoup some monetary losses resulting from Fraud , other losses can never berecovered, such as losses resulting from adverse publicity, the disruption ofoperations, and time spent with law enforcement officials and , the consistent application of sound risk management practices canminimize opportunities for white-collar crime, helping to spare anorganization the financial loss and humiliation that can result from adetermined employee s Fraud asked KPMG Fo

INTRODUCTION Understanding the impact of workplace fraud, and the potential losses associated with fraud and establishing effective loss control measures are

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